The Toronto-Dominion Bank (NYSE:TD) Given Consensus Rating of “Hold” by Brokerages

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $84.00.

Several research firms recently issued reports on TD. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, UBS Group assumed coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock.

Toronto-Dominion Bank Trading Up 0.6 %

NYSE TD opened at $56.69 on Tuesday. Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $60.64 and a 200-day moving average of $58.00. The company has a market cap of $99.12 billion, a PE ratio of 18.11, a PEG ratio of 1.65 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 EPS. On average, equities research analysts anticipate that Toronto-Dominion Bank will post 5.82 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 96.49%.

Institutional Trading of Toronto-Dominion Bank

Several institutional investors have recently added to or reduced their stakes in TD. Dimensional Fund Advisors LP lifted its holdings in Toronto-Dominion Bank by 61.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after buying an additional 2,215,185 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Toronto-Dominion Bank by 31.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after purchasing an additional 2,188,263 shares in the last quarter. National Bank of Canada FI grew its stake in Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. 1832 Asset Management L.P. increased its holdings in Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Toronto-Dominion Bank by 17.9% in the first quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock valued at $493,880,000 after buying an additional 1,238,502 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.